Boeing Secures $10 Billion Credit Agreement, Files $25 Billion Shelf Registration as Stock Rises 2.8%

Oct 15, 2024, 10:39 AM

Boeing has entered into a $10 billion supplemental credit agreement with major banks including Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase Bank. This move aims to shore up its balance sheet and manage its financial pressures, including an $11.5 billion debt maturing by February 2026 and a $1 billion per month strike. Boeing's stock rose 2.8% following the announcement and 2% premarket. Additionally, Boeing has filed for a mixed shelf registration of up to $25 billion, potentially in preparation for an equity raise and a $4.7 billion share issuance for Spirit AeroSystems.